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Russia central bank chief: We may make staged rate cuts/pause easing
September 15, 2017 / 12:46 PM / a month ago

Russia central bank chief: We may make staged rate cuts/pause easing

Russian central bank governor Elvira Nabiullina gestures during a news conference in Moscow, Russia, June 16, 2017. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - The Russian central bank may cut its key rate in stages in future and may pause its monetary easing program, Elvira Nabiullina, the bank’s governor, told a news briefing on Friday.

The central bank cut the key rate by 50 basis points to 8.5 percent on Friday. Nabiullina said inflation might reach 3.5-3.8 percent by the end of this year, which would be below the 4 percent target set by the central bank.

Reporting by Andrey Ostroukh and Jack Stubbs; Writing by Katya Golubkova; Editing by Andrew Osborn

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